Rwanda targets $800 million from gold by 2020

By IGIHE
On 10 November 2017 at 01:28

The Minister of Finance and Economic Planning, Amb. Claver Gatete has said that the county has enough mineral deposits which has called for the government to construct a new gold processing plant.

While presenting the state of the country’s economy and execution of the National Budget to parliamentarians yesterday, Gatete said that mining sector is among the fastest growing - economic sectors in the country.

He said that the country targets to earn $800 million in 2020 and $1.6 billion in 2024 from the mining sector.

He explained that different studies, have shown that the country has enough minerals especially, Coltan and Wolfram.

“As we know the production we have today, for us to get enough profit, we need to engage the private sector for investments in the sector” he said.

“We need to explore other minerals like gold. For gold we are constructing a processing plant and construction activities will be completed in March next year in Special Economic Zone. Currently we produce more than 200 tons of gold weekly. We want to fast-truck activities so that we start processing gold form within the country,” he explained.

Rwanda has 537 mining quarries across the country with 130 companies and 30 cooperatives with80% of them in the medium category.


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